Lemonade (NYSE:LMND) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Lemonade (NYSE:LMND) had its price objective increased by BMO Capital Markets from $13.00 to $15.00 in a research report released on Thursday,Benzinga reports. They currently have an underperform rating on the stock.

LMND has been the subject of several other research reports. Piper Sandler boosted their price objective on shares of Lemonade from $25.00 to $44.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group reduced their price target on shares of Lemonade from $15.00 to $14.00 and set an “underperform” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley raised Lemonade from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $23.00 to $42.00 in a research note on Wednesday, November 20th. Keefe, Bruyette & Woods cut Lemonade from a “market perform” rating to an “underperform” rating and boosted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, November 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $40.00 price target on shares of Lemonade in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.43.

Lemonade Trading Down 2.1 %

Lemonade stock opened at $49.28 on Thursday. The firm has a 50 day simple moving average of $22.98 and a 200 day simple moving average of $19.54. Lemonade has a 1-year low of $14.03 and a 1-year high of $52.22. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of -16.21 and a beta of 1.68.

Lemonade (NYSE:LMND) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.07. The business had revenue of $136.60 million for the quarter, compared to analysts’ expectations of $129.10 million. Lemonade had a negative return on equity of 32.85% and a negative net margin of 43.51%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.88) EPS. On average, equities research analysts forecast that Lemonade will post -3.05 EPS for the current year.

Insiders Place Their Bets

In other news, Director Maria Angelidis-Smith purchased 18,512 shares of the company’s stock in a transaction on Friday, November 8th. The stock was acquired at an average price of $27.42 per share, with a total value of $507,599.04. Following the transaction, the director now directly owns 18,512 shares of the company’s stock, valued at approximately $507,599.04. This represents a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy E. Bixby sold 2,050 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.24, for a total transaction of $37,392.00. Following the transaction, the chief financial officer now directly owns 271,552 shares of the company’s stock, valued at approximately $4,953,108.48. This trade represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 102,892 shares of company stock valued at $3,783,045 over the last quarter. 12.50% of the stock is owned by corporate insiders.

Institutional Trading of Lemonade

Several large investors have recently modified their holdings of LMND. State Board of Administration of Florida Retirement System lifted its holdings in Lemonade by 18.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,226 shares of the company’s stock worth $283,000 after buying an additional 2,710 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Lemonade by 9.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,609 shares of the company’s stock valued at $404,000 after acquiring an additional 2,196 shares in the last quarter. Tidal Investments LLC purchased a new stake in Lemonade in the first quarter worth $718,000. Concurrent Investment Advisors LLC bought a new stake in Lemonade in the second quarter valued at $180,000. Finally, Van ECK Associates Corp increased its position in Lemonade by 12.1% during the 2nd quarter. Van ECK Associates Corp now owns 17,774 shares of the company’s stock valued at $293,000 after purchasing an additional 1,915 shares during the period. 80.30% of the stock is owned by institutional investors.

Lemonade Company Profile

Lemonade, Inc provides various insurance products through various channels in the United States, Europe, and the United Kingdom. Its insurance products include stolen or damaged property, and personal liability that protects its customers if they are responsible for an accident or damage to another person or their property.